Shares of Intuitive Machines (LUNR) surged 12.89% on Wednesday after NASA announced it had selected the company to provide payload flight and integration services for its Near Space Network project.
According to NASA, Intuitive Machines and Kongsberg Satellite Services AS were awarded contracts to support the development of a new constellation of satellites to enable communications and navigation services in near-space orbits.
The Near Space Network aims to establish a sustainable commercial space-based relay system to transfer data, voice and telemetry from science missions and spacecraft. With this major new contract win, investors are clearly bullish on Intuitive Machines' prospects in the growing commercial space industry.
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